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Axios this morning has a story about how increased minimum wages may not be having the negative impact on hiring that some predicted.

From the Axios story:

"Eighteen states rang in 2019 with minimum wage increases — some that will ultimately rise as high as $15 an hour — and so far, opponents' dire predictions of job losses have not come true."

Context: " Opponents have long argued that raising the minimum wage will cause workers to lose their jobs and prompt fast food chains (and other stores) to raise prices.
But job losses and price hikes haven't been pronounced in the aftermath of a recent wave of city and state wage-boost laws. And more economists are arguing that the link between minimum wage hikes and job losses was more hype than science."

However, Axios notes, " There could still be negative long-term effects, such as businesses choosing to locate in states with lower minimum wage requirements." At the same time, proponents of higher wages need to factor in the fact that there may be a ceiling to how high minimum wages should be increased.
KC's View:
One thing that these conclusions do not allow for is what happens when a recession hits; I'm not an economist, but I wonder if a $15 minimum wage might create bigger or different problems under those circumstances.

That's not a reason to avoid paying people enough to be able to afford food and lodging and clothing and an education for their children.

Here's the other thing. All the research that I've seen has shown that as the economy has improved and companies have reported improved profits, much of that money has gone to stock buybacks and investor rewards, and not to higher wages and capital investments.

Higher minimum wages, it seems to me, are just one component of a complicated economic landscape that I find to be increasingly worrisome.